Chinese PV Industry Brief: Canadian Solar joins 500 W+ club, Trina to supply nearly 1 GW

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Canadian Solar has unveiled a new line of PV modules with maximum power ratings of up to 590 W. Its new single-glass panels are based on 166mm wafers, with power ratings up to 500 W, while its new bifacial offering is based on 182mm wafers, with 590 W of output and a conversion efficiency rating of 21.3%. However, mass production of the new panels will probably not start until later this year or early 2021.

Trina Solar said this week that it has signed a contract to supply 970 MW of PV panels to Ocena Invest, a Spanish unit of The Rise Fund, a global impact investment fund managed by alternative asset specialist TPG. Over the next two and half years, Trina will supply modules for 35 solar projects in multiple countries. The deal is worth around CNY4.95 billion ($700.5 million).

Flat Glass said on Wednesday that it expects to record a net profit of CNY420 million to CNY470 million in the second quarter. The PV glass supplier said rising bifacial module production is driving demand for glass.

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China Huaneng Group and China Datang Corp. said on Wednesday that they have signed an agreement with the authorities in Luodian County, Guizhou province, to develop 230 MW of solar capacity. Huaneng will invest CNY1 billion in the development of a 60 MW project and a 90 MW installation, while Datang will invest CNY500 million in 80 MW of capacity. The two state-run energy groups expect to complete the projects by the end of December.

Zhonghuan Semiconductor said Friday that it has passed an antitrust review for its plan to acquire Maxeon. It aims to buy up to 28.838% of Maxeon in the third quarter, in a transaction that it will make it the company’s second-largest shareholder.